Guardian Care Homes accuses the bank of mis-selling it an interestrate hedging product linked to the Libor interestrate which Barclays, and other major international banks based in London, are now known to have manipulated.
Until this summer, the London Interbank Rate Offering Rate (LIBOR) was an omnipresent seemingly esoteric instrument that few non-financial people actually paid attention to other than knowing that their interestrate was somehow linked to it.
One reason why they might do so is that the country has some bonds outstanding where the interestrate to be paid is linked to the officially reported inflation rate.
Series I bonds consist of two components: a fixed interestrate return and an adjustable inflation-linked return, making them somewhat similar to TIPS. The fixed rate never changes, but the inflation return rate is adjusted every six months and can also be negative (which of course brings your total return down).